The question most new investors hopping to enter into businesses dealing with perishable goods or medical supplies are asking is, how much does dry ice cost? Dry ice, cardice or solid carbon dioxide is the most commonly used coolant or preserver for food, biological samples and medical supplies because of its unique properties.
The question seems to be easy, requiring just one word answer. This is far from the reality as several factors may affect the unit price of dry ice. Even with these factors taken into account, many other confounding factors may adjust the cost upwards and in rare cases downwards. Below are the main factors that influence the unit cost of dry ice.
The brand manufacturer
Dry ice is not produced by a single company. There is a battery of companies producing dry ice meaning that they come in a variety of brands. The cost depends on the particular brand of dry ice being sold. Companies set their prices differently depending on cost of production as well as the perceived quality of dry ice they produce.
The quantity of dry ice you purchase
Usually most sellers set the price of dry ice based on some kind of unit. Most ice companies produce ice into blocks, slices, pellets or drice (3 mm pellets). The price is set for the minimum amount dry ice that can be sold. For example, dryice.ie sets their prices on a minimum of 10kg block, 10 slices or 1 bag of pellets. Furthermore, certain sellers may use pounds for example; one pound of dry ice causes 1 USD.
It is also important to point out that you are likely to pay less for a unit cost if you purchase in bulk. In other words, if you purchase more dry ice, you could qualify for some form of discount or coupon, which will reduce the cost per unit, if you choose to do some calculations.
Your geographical location
One business principle is that prices tend to be higher where there is high demand amidst limited supply. Such a situation may occur if you intend to purchase dry ice in a remote location where very few sellers are available. You may have to pay extra because of the high cost of production in rural areas as well as limited supply.
Even if you were to purchase from affluent areas such as cities, you will still have to pay for the shipping cost. Furthermore, the prices may also differ depending on the country where dry ice is produced because of the different currencies as well as production costs. For instance, dry ice is cheaper in developed countries compared to developing countries.
The type of dry ice
Another thing that can answer the question ‘how much does dry ice go for’ is the type of dry ice being sold. As already been discussed, there are three types of dry ice including blocks, pellets, slices and drice. Each of these types is priced differently because they differ in quantity and at times quality and uses. However, dry ice, in most cases is sold in a given unit value (such as 10 kg units) irrespective of the type and so they have standard prices.